T&i Credit Union Mortgage Rates, Fees & Info
Clawson, MILEI: 549300S7TI0GLKSB4C78
Tax ID: 38-1506104
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Mortgage Data
Review & Overview
T&i Credit Union is a smaller credit union specializing in Cash Out Refi loans. T&i Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Bay City, and Traverse City among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)T&i Credit Union has an above average approval rate when compared to the average across all lenders. T&i Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
43Origination Dollar Volume (All Markets)
$6,585,000Awards
T&I Credit union - 2021
T&I Credit union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 41 | $6,345,000 | $154,756 | $890 | 3.19% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $499 | 3.25% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,000 | 2.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against T&I Credit union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 43 | $6,585,000 | $153,140 | $883 | 3.19% |
For 2021, T&i Credit Union's most frequently originated type of loan was Conventional, with 43 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 32 | $5,390,000 | $168,438 | $874 | 3.22% |
| Refi | 11 | $1,195,000 | $108,636 | $909 | 3.09% |
For 2021, T&i Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 28 | $4,670,000 | $166,786 | $982 | 3.38% |
| 15 Year | 14 | $1,860,000 | $132,857 | $714 | 2.83% |
| 10 Year | 1 | $55,000 | $55,000 | $499 | 2.79% |
For 2021, T&i Credit Union's most frequently cited loan duration was 30 Year, with 28 originations. The 2nd most popular length was 15 Year, with 14 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 27 | $4,485,000 | $166,111 |
| 2.5-3% | 15 | $1,915,000 | $127,667 |
| 4-5% | 1 | $185,000 | $185,000 |
During 2021, T&i Credit Union's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 3-4%, with 27 originations.
Loan Sizing
2021 saw T&i Credit Union place emphasis on $100k-200k loans with 26 originations, totaling $3,820,000 in origination value.
Applicant Income
T&i Credit Union lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
T&i Credit Union lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 39 | $5,925,000 | $151,923 | $910 | 3.21% |
| Asian | 3 | $615,000 | $205,000 | $499 | 2.94% |
| Black | 1 | $45,000 | $45,000 | $1,000 | 2.99% |
Approval Rates
Total approvals of all applications100.00%
T&i Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 43 | $6,585,000 | $153,140 |